DJIA Study Update, SDOW, VXX
At the time we predicted that if the DJIA pushed much higher "the ultimate high [would be] probably occurring near the lower line on the 'rising wedge'..."
The DJIA has gone roughly 1000 points higher in the nearly two months since then and is now at the lower line on the 'rising wedge', as seen in this chart:
In light of this potentially pivotal technical juncture we consider this eye-opening article by Mark Hulbert, "Here’s how you know the stock market is hugely overvalued".
If the DJIA closes below 18450 we'll double-up on VXX as well as add SDOW (ProShares Ultrapro Short DOW30).
If these positions are triggered, we'd close both if the DJIA goes on to close above 18850 pending future updates.
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